CPO Futures Close Mixed Despite Higher Crude Oil Prices

By K. Naveen Prabu

KUALA LUMPUR, April 28 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed mixed today, despite higher crude oil prices, a trader said.

At the time of writing, Brent crude rose 2.79 per cent to US$111.3 a barrel. 

Iceberg X Sdn Bhd proprietary trader David Ng said market sentiment was also underpinned by gains in the soybean oil market.

“We see support at RM4,400 per tonne and resistance at RM4,620 per tonne,” he told Bernama.

At the close, the May 2026 and June 2026 contracts rose RM3 each to RM4,468 per tonne and RM4,508 per tonne, respectively, and the July 2026 contract edged up RM2 to RM4,536 per tonne.

The August 2026 contract slipped RM1 to RM4,559 per tonne, the September 2026 contract declined RM4 to RM4,572 per tonne, and the October 2026 contract eased RM2 to RM4,578 per tonne.

Trading volume surged to 93,387 lots from 62,887 lots on Monday, while open interest increased to 259,686 contracts from 257,941 contracts previously.

The physical CPO price for May South remained unchanged at RM4,530 per tonne.

-- BERNAMA